Ripple XRP Cryptocurrency: the Essence, Problems and Latest News

Ripple crypto is on the top traded digital assets on the Coinmarketcap ranking. The Ripple project is technologically rich and offers advanced currency transfer solutions, which many real sector companies have already introduced into their work processes. Let’s see what Ripple is.

What is Cryptocurrency Ripple XRP?

XRP is a token of the Ripple platform. XRP to USDT is one of the most traded pairs throughout all crypto exchanges. The platform aims to bring currency settlements to a brand new level, offering the following benefits:

  • lightning-fast money transfers worldwide;
  • low fees;
  • high level of safety;
  • no middlemen and no delays.

As of mid-October 2022, the Ripple price is $0.45. Why is it so low? The answer is hidden in legal proceedings ongoing between Ripple and SEC.

Ripple Problems

A few years ago, SEC sued RippleLabs, asking to claim the XRP token a security. The matter is that the Ripple platform has a centralised nature, that is, all the transactions and processes within the network are monitored by a central body.

Ripple denies admitting XRP a security, so the process is always delayed, and we don’t know when it will be solved. Of course, it slows down the Ripple platform’s development and does not allow it to open its potential fully.

Latest News on Ripple

Recently, Ripple NFT developers decided to invest in the NFT segment. In September 2022, the company announced a $250 million support for this industry that will help the creation and development of Ripple NFTs on the XRPL in fields like media, real estate, etc.

Since September 2022, the XRP price has risen from $0.32 to $0.15. Experts believe the coin will hold this level for a longer period. For more information on Ripple, read its official resources and social networks.